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OK…. transpires that New Vendors are sometimes clueless when it comes hiring JV Manages so here are some pointers…
Firstly you have to understand the difference between a Launch Partner & a JV Manager
PRODUCT LAUNCH PARTNER
A Launch Partner adds the required skillsets you need for an effective launch, this could be sales, marketing, contacts, affiliate recruitment, launch expertise, split testing, market knowledge, pricing, copywriting, payment processing & funnel expertise.
Advantages – Good launch partners usually have the experience of many aspects of a launch.
Disadvantage – You may end up with less control over your product and you may have to enter into a long-term agreement depending on what they can bring to the table – this could be an advantage if the person is high caliber
How much? – usually, 30 – 80% depends on person + costs involved (sales, marketing material etc)
Experienced Launch partners are rare so you may have to dig around to find them
JV Managers are usually well-connected, but with limited skills to offer other than being a middleman, they act to present your offer to people that matter. JV managers usually take care of all affiliate communications before & during launch.
Advantages – They are usually cheaper… usually only expect a short-term relationship. Control of the product & delivery is left to the product vendor
Disadvantages – They are usually not involved in the product & marketing material creation so often are less knowledgeable about your product. Newbie partners are sometimes charged a “retainer” which you may lose if the launch is problematic.
How Much? – usually 10 – 50% + costs
Remember JV managers are not gods… they are salespeople acting on your behalf – research their reputation & circles they mix in well – remember they are in charge of representing you.
So firstly decide, which level of support you need then you have to investigate the person…
Questions to ask?
1. How many big launches have they been involved in the last few years with whom & what were the results…
2. What did the last 2 launches do? & What Were They?
Do a social post in JV Groups asking about the reputation of a JV partner – people with good reputations have nothing to fear… people with skidmarks do & will almost certainly object
Do a search for the person’s name in Google
That’s your Due diligence
HIRING A PARTNER OR A JV MANAGER
Mindset – run your business from a position of power – it’s your product – you are in charge – don’t let anyone power trip you.. that’s usually a bad sign – remember you are hiring someone for a service that helps you fill your skillset gaps & launch requirements NOT the other way around – you are not applying to be their employee – if they turn out to be doing a shit job – fire their ass!
Just because they call themselves a JV manager/Partner doesn’t mean they are competent & good at what they do or will do what they promise.
This is business & you are not a pansy! so act like a businessman…
1. The fewer choices you have the worse deal you are going to get… talk to several people not just one & be clear that you are negotiating so people don’t get offended – good business people examine their options
2. Beware that the best people like in any trade are busy so you may have to wait – being desperate to launch puts you at a huge disadvantage.
3. Present your product, tell your partners what’s unique about it & what problem it solves that other products don’t…
Uniqueness & product quality will wet their appetites – no one wants to flog an old horse – make sure you have demo videos &/or product access.
4. Schedule an appointment to showcase your product on a video call – you can gauge the level of interest they show you – JVs are busy people so don’t miss this step…
Anyone who quotes you fees before product presentation – be careful – how can they gage what a product launch is worth without seeing it? so defer discussions until then
5. Ask for their fee, explain that you are talking to others & ask if it’s negotiable…keep your options open
6. Less scrupulous JV manages & partners will request a large retainer fee – that’s a warning sign they have no confidence in your product – be aware… Ask for a detailed breakdown of what the fee is for & what would be refunded if the launch fails or doesn’t go ahead…
7. Details, Details, Details…. Ask for how many JVs will they mail, how many mails will they send to the JV list, How big is their direct contact list, how many times will these JVs be directly contacted, what other duties will they do & when will these be done…. draw up a list of promises & tasks…
8. Top JV managers will see a good product as a great opportunity & may ask for a higher percentage & low or no deposit.
Insecure & less experienced JV managers/partners will ask for a high deposit if the fee is high & you have no satisfactory explanation of what it will cover, be warned you may be paying a vanity fee for working with someone with a high self-opinion.
9. make sure they fully understand the product, your features & benefits
Assuming the fee is reasonable & the refunds policy is satisfactory NEVER EVER PAY IN FULL – OFFER to stage Pay this based on the promised tasks being completed – this keeps you in control of the deal & ensures the JV/Partner is motivated to complete the task
10. GET IN WRITING – you’ll be surprised how many partnerships go sour because of post-launch amnesia – belt & braces make a contract & spell out what happens IF they dont carry out the required tasks , a skype conversation will cover you for nothing especially under international law – so have a contract or be prepared to lose your shirt
That’s it folks – it’s not that difficult really…& if you still fucked up after this then grow up & accept responsibility for doing a shit job of the above.
Source: Chris Hitman – FB Post